Federal, state, and local tax programs and incentives can help you finance new projects, expand your operations, train employees, and enhance your after-tax earnings. One of the largest tax credit practices in the country, CohnReznick’s team will identify the right strategic opportunities for your business and guide you through implementation — whether it’s tax exemptions and credits, job training credits, Research and Development (R&D) Credits, Work Opportunity Tax Credits (WOTC), or others.
CohnReznick helps businesses operating in multiple states plan for and meet compliance requirements for income/franchise and gross receipts taxes, managing the total tax due. We understand the different state sourcing rules and can ensure that you are properly sourcing your taxable income, prepare your annual state and local income tax returns, and recover overpaid taxes. We can also provide audit support, assist you in pursuing ruling requests and Voluntary Disclosure Agreements (VDAs) , and negotiate with taxing jurisdictions.
If your business has operations in multiple states, you need to know where you’re subject to taxes and which taxes may be due. Through our nexus reviews, CohnReznick will review your operations, identify jurisdictions where return(s) may be due, and summarize the potential tax liabilities. We also develop strategies to minimize exposures and, if needed, we can assist in securing VDAs to help you manage your overall past tax risk.
CohnReznick has the experience to navigate the complex tax requirements associated with properties of all types. Our team works to minimize your property tax exposure and manage your tax compliance processes efficiently while also identifying all available exemptions, conducting fixed asset reviews and reclassifying properties as needed, and providing fair valuations.
Sales and use tax rules are more complex than ever, presenting known and unknown risks to businesses of all sizes. We provide our clients with proactive, practical advice on sales and use tax filings and processes, taxability of products and services, and other related issues.
If you need to contest a state or local tax assessment, we can assist you with tax examinations, disputes, and appeals and can represent you before tax authorities. For decades, we’ve helped our clients achieved favorable outcomes involving all state and local taxes.
Our SALT professionals will advise your business on the tax implications of pending and past transactions, helping you develop tax-efficient strategies and structures to manage your state and local tax positions. We explore your company’s legal entity structuring, operations, short and long-term business objectives, and state and local tax positions as they relate to transaction and structure planning, identifying solutions that best address your goals.
Unclaimed property — such as unused gift certificates and gift cards — raises potentially complex tax risks for many businesses. CohnReznick can determine whether you have unclaimed property, help you establish processes to monitor and mitigate risk, and assist you in unclaimed property reporting. We can also help you if your business is subjected to an unclaimed property audit.
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The Wayfair Decision - An Update
Learn more about South Dakota v. Wayfair - State by State Guidance
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Sales and Use Tax in the Cloud Age